[152 Pages Report] The global power monitoring market was USD 3.29 Billion in 2016 and is expected to grow at a CAGR of 5.76%, from 2017 to 2022. The increasing focus on efficient utilization of power resources, increasing attention to reduce energy costs, and maximizing the reliability of electrical infrastructure are the major factors driving the power monitoring market.

The years considered for the study are as follows:

Base Year: 2016

Estimated Year: 2017

Projected Year: 2022

Forecast Period: 20172022

The base year for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

To define, describe, segment, and forecast the global power monitoring market on the basis of component, end-user, and region

To provide detailed information regarding the major factors influencing the growth of the power monitoring market (drivers, restraints, opportunities, and industry-specific challenges)

To strategically analyze the power monitoring market with respect to individual growth trends, future prospects, and contribution of each segment to the market

To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders

To benchmark players within the market using the proprietary competitive leadership mapping, which analyzes market players on various parameters within broad categories of business and product strategies

To track and analyze competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the power monitoring market

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as D&B Hoovers, Bloomberg Businessweek, and Factiva, have been used to identify and collect information useful for a technical, market-oriented, and commercial study of the global power monitoring market. The primary sources include several key industry participants, subject matter experts, C-level executives of major market players, industry consultants, academic and scientific research professionals, and organizations related to all the segments of the industrys value chain. The points given below explain the research methodology.

Study of annual revenue and market developments of major players that provide power monitoring systems

Analyses of major end-users and applications of power monitoring systems

Assessment of future trends and growth of the power monitoring market on the basis of investments in smart grid technologies

Study of the market trends in various regions and countries based on components of power monitoring systems

Study of the contracts and developments related to the power monitoring market by key players across different regions

Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chains, and annual revenues of companies manufacturing motor control centers across the globe

After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.

The ecosystem of the global power monitoring market starts with component suppliers who provide hardware and software. The hardware components of power monitoring systems are metering and communication devices and measurement devices. The enablers are the ones who are directly responsible for the implementation of power monitoring system in a manufacturing facility. The enablers include solution providers who deliver the entire power monitoring system and possess the capability to supply either hardware or software or both directly to the end-users. These devices are then distributed to end-users, such as manufacturing and process industries, datacenters, utilities and renewables, public infrastructure, and electric vehicle charging stations.

Target Audience:

The reports target audience includes:

Power monitoring system manufacturers and suppliers

Standard and smart meter manufacturers and suppliers

Power monitoring software providers

Communication network providers

Consulting companies in the power sector

Manufacturing and process industries

Public and private utilities

Government and power research organizations

Scope of the Report:

By Component

Hardware

Metering and Communication Devices

Measurement Devices

Software

Services

By End-User

Manufacturing and Process Industry

Datacenters

Utilities and Renewables

Public Infrastructure

Electric Vehicle Charging Stations

By Region

North America

Europe

Asia-Pacific

Middle East & Africa

South America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:

The global power monitoring market is projected to grow at a CAGR of 5.76% from 2017 to 2022, to reach a market size of USD 4.57 Billion by 2022. This growth is attributed to the efficient utilization of power resources, increasing electricity prices, and maximizing reliability of electrical infrastructure. The increasing requirement of reliable power supply and replacement of existing infrastructure would also boost the demand for power monitoring systems.

The power monitoring market is segmented by component into hardware, software, and services. The hardware segment accounted for the largest market size in 2016 due to the increasing deployment of smart meters and standard meters globally. The hardware segment is expected to grow at the highest CAGR from 2017 to 2022, owing to increasing smart grid investments and energy efficiency targets globally. The hardware segment is further sub-segmented into metering and communication and measurement devices. The metering and communication devices segment is projected to dominate the hardware market and is expected to grow at the fastest rate during the forecast period. This growth is attributed to smart meter roll out plans and increasing demand for reliable power supply globally.

The report segments the power monitoring market by end-user into manufacturing and process industry, datacenters, utilities and renewables, public infrastructures, and electric vehicle charging stations. The manufacturing and process industry segment accounted for the largest market share in 2016. Power monitoring systems are used in manufacturing and process industries for delivering reliable power supply and to increase the plant uptime. The manufacturing and process segment includes cement, pharmaceutical, semiconductors, metals and mining, water and wastewater, automotive, oil & gas, and food and beverages. The datacenters segment is expected to grow at the highest CAGR from 2017 to 2022, owing to increasing investments in IT hubs in North America and Asia-Pacific.

In this report, the power monitoring market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is projected to dominate the global power monitoring market by 2022, owing to smart grid investment and aging T&D infrastructure in the region. The market in Asia-Pacific is expected to grow at the highest CAGR from 2017 to 2022. This growth is attributed to growing industrialization and urbanization and rising renewable power generation capacity in the region. Countries, such as India, Japan, and China are driving the power monitoring market in the Asia-Pacific region. The infrastructural developments and investments in the water and wastewater industry in the Middle East & Africa are expected to drive the power monitoring market in the region.

Two types of power monitoring systems are low- and high-end. Low-end monitoring devices provide basic measurements, such as, current, power factor, energy use, and voltage. High-end monitoring devices have features, such as, disturbance detection and location, harmonic distortion analysis, high-speed transient detection, automated alarm configuration, flicker detection and location, and anti-aliasing. High-end monitoring devices, such as data loggers, power quality analyzers, and data recorders are costly and have more installation cost than low-end monitoring devices. The high-end monitoring devices are more complex and expensive than low-end monitoring devices. The capital intensive nature of high-end monitoring devices could act as a restraint for the growth of the power monitoring market.

Leading players in the power monitoring market include Schneider Electric SE (France), Eaton Corporation plc (Ireland), Siemens AG (Germany), Rockwell Automation, Inc. (U.S.), and General Electric Company (U.S.). New product developments was the strategy most commonly adopted by top players in the market from 2013 to June 2017. It was followed by mergers & acquisitions, expansions, and contracts & agreements.

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Figure 1 Power Monitoring Market SegmentationFigure 2 Power Monitoring Market: Research DesignFigure 3 Bottom-Up ApproachFigure 4 Top-Down ApproachFigure 5 Data Triangulation MethodologyFigure 6 Assumptions of the Research StudyFigure 7 North America is Estimated to Hold the Largest Share in the Power Monitoring Market in 2017Figure 8 Hardware Segment is Expected to Dominate the Power Monitoring Market By 2022Figure 9 Metering and Communication Devices Segment is Expected to Grow at A Higher CAGR in Hardware Segment During the Forecast PeriodFigure 10 Manufacturing and Process Industry Segment is Expected to Dominate the Power Monitoring Market During the Forecast PeriodFigure 11 Attractive Opportunities in the Power Monitoring Market, 20172022Figure 12 Asia-Pacific Market is Expected to Grow at the Highest CAGR From 2017 to 2022Figure 13 The Hardware Component is Expected to Grow at the Fastest Rate During the Forecast PeriodFigure 14 The Metering and Communication Devices Subsegment is Expected to Dominate the Power Monitoring Market in 2017Figure 15 Datacenters Segment is Expected to Grow at the Highest CAGR From 2017 to 2022Figure 16 The U.S. Accounted for the Largest Share of the North American Power Monitoring Market in 2016Figure 17 Increasing Focus on Efficient Utilization of Power Resources to Drive the Power Monitoring MarketFigure 18 Growing Urbanization Trend, 19502050Figure 19 Supply Chain Analysis: Power Monitoring MarketFigure 20 Hardware is Expected to Be the Fastest Growing Segment in the Power Monitoring Market During the Forecast PeriodFigure 21 Asia-Pacific: the Fastest Growing Region in the Power Monitoring Market, By Hardware, 20172022Figure 22 North America is Projected to Dominate the Power Monitoring Market, By Software, 20172022Figure 23 Manufacturing & Process Industry Segment is Expected to Be the Largest Market for Power Monitoring During the Forecast PeriodFigure 24 Manufacturing and Process Industry Segment, By Region, 20172022 (USD Million)Figure 25 Datacenters Segment, By Region, 20172022 (USD Million)Figure 26 Utilities and Renewables Segment, By Region, 2017Figure 27 Regional Snapshot: Power Monitoring Market (20172022)Figure 28 North America: the Largest Power Monitoring Market, 20172022Figure 29 North America: Market SnapshotFigure 30 Hardware: the Fastest Growing Component Segment in the U.S. During the Forecast PeriodFigure 31 Europe: Market SnapshotFigure 32 Germany: the Largest Power Monitoring Market in Europe in 2016Figure 33 Germany: Power Monitoring Market, By Component, 20172022Figure 34 U.K.: Power Monitoring Market, By Component, 20172022Figure 35 China: Power Monitoring Market, By Component, 20172022Figure 36 Japan: Power Monitoring Market, By Component, 20172022Figure 37 Saudi Arabia: the Fastest Growing Power Monitoring Market in the Middle East & Africa Region From 2017 to 2022Figure 38 Saudi Arabia: Power Monitoring Market, By Component, 2017 & 2022Figure 39 U.A.E.: Power Monitoring Market, By Component, 20172022Figure 40 South America: Power Monitoring Market, By Country, 2017Figure 41 Brazil: Power Monitoring Market, By Component, 20172022Figure 42 Companies Adopted New Product Developments as the Key Growth Strategy, 20132017Figure 43 Market Evaluation Framework, 20132017Figure 44 Battle for Market Share (20132017): New Product Launches Was the Key Strategy Adopted By Major PlayersFigure 45 Competitive Leadership MappingFigure 46 ABB Ltd: Company SnapshotFigure 47 Eaton Corporation PLC: Company SnapshotFigure 48 Emerson Electric Co.: Company SnapshotFigure 49 General Electric Company: Company SnapshotFigure 50 Littelfuse, Inc.: Company SnapshotFigure 51 Mitsubishi Electric Corporation: Company SnapshotFigure 52 Omron Corporation: Company SnapshotFigure 53 Rockwell Automation, Inc.: Company SnapshotFigure 54 Schneider Electric SE: Company SnapshotFigure 55 Siemens AG: Company SnapshotFigure 56 Yokogawa Electric Corporation: Company Snapshot

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